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Sep 30, 2023
Genworth Q3 2023 Earnings Report
Genworth's Q3 2023 results were announced, featuring a net income of $29 million and adjusted operating income of $42 million.
Key Takeaways
Genworth Financial reported a net income of $29 million and an adjusted operating income of $42 million for Q3 2023. Enact's strong performance was a key driver, while the company continued to advance its LTC rate action plan and executed share repurchases.
Enact segment reported adjusted operating income of $134M with a PMIERs sufficiency ratio of 162%.
LTC segment experienced an adjusted operating loss of $71M, while Life and Annuities had an adjusted operating loss of $3M.
The company made progress on its LTC multi-year rate action plan, securing $83M of gross incremental premium approvals in Q3.
Genworth executed $80M in share repurchases during the quarter, bringing the total to $334M through October 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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